australian franking/imputation credit

[doug foskey]

On Wednesday 03 September 2003 12:34 am, Peter Garrone wrote:
> What to do with these? Is this valid?
> With the franking credit comes either a check or new shares, so add that
> to dividends in the usual way.
> There is an associated imputation credit that is a withholding tax.
> At tax time, it adds to the total taxable income, but subtracts
> from total tax, so is in effect dividend deferred until tax return.
>
> So Add this imputation credit to the dividend account, and subtract it
> from wherever the tax return goes.
> _______________________________________________

Jon, could we perhaps have an 'Australian' section of documentation, or should 
we seperate this? - personally I think it should go in the main docs, as an 
entry, as then we can move things easily into the main area when tax 
practises line up in more countries.

regards Doug

(I could possibly start on some of this, but my Accounting skills are minimal)